Variable Costing Income Statement

On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept:

Weatherford Company Absorption Costing Income Statement For the Month Ended November 30
Sales (104,000 units)			$5,200,000
Cost of goods sold:
Cost of goods manufactured (120,000 units)	$4,560,000
Inventory, November 30 (16,000 units)	(608,000)
Total cost of goods sold			3,952,000
Gross profit			$1,248,000
Selling and administrative expenses			400,000
Income from operations			$848,000

Assume the fixed manufacturing costs were $960,000 and the fixed selling and administrative expenses were $280,000.

Prepare an income statement according to the variable costing concept.